On the basis of a comprehensive definition of investor sentiment,a theoretical analysis about the relationship between investor sentiment and spot return is given,and five hypotheses of investor sentiment are concluded.

According to the regulations related to the later expenditure of fixed assets from two aspects: current profit and loss and current depreciation the influences of different division of the later expenditure of fixed assets on fiscal treatment are analyzed.

With Keynes’ Absolute Income Hypothesis and Modigliani’s Life-Cycle Hypothesis as the theoretical basis and the linear regression of the Econometrics as the measurement methods,the paper analyses the impact of the average household disposable income,current income and durable income on the consumption of Chinese urban and rural residents.

On the aboue assumption, this paper studies reservation value setting and draws conclusions that reservation value has no pertinence with the expected number of bidders while the expected number of bidders affect expected revenue of the auctioneer.

Maximization of expected revenue is the only decision objective in that model.

Aiming at the phenomenon of jump bidding in multi-unit auctions which may change the expected revenue of auctioneer and bidders,the paper studies effect of revenue of two-unit auction based on jump bidding.